123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> General >> View Article

Magnetic Refrigeration Market Expected To Reach 163.7 Million Usd By 2023

Profile Picture
By Author: MarketsandMarkets
Total Articles: 218
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

According to the new research report "Magnetic Refrigeration Market by Product (Refrigeration Systems, Air Conditioning Systems and Heat Pumps), Application (Domestic, Commercial, Transportation and Industrial), and Geography - Global Forecast to 2023", the magnetic refrigeration market is expected to be valued at USD 163.7 Million by 2023, growing at a CAGR of 108.0% between 2018 and 2023. The growth of this market is mainly driven by factors such as increasing focus on green technology, low maintenance cost, and high energy efficiency.

Domestic application expected to witness the highest CAGR between 2018 and 2023 in the magnetic refrigeration market

The market for the domestic application is expected to grow at the highest CAGR between 2018 and 2023. The domestic application includes household appliances for personal use, such as refrigerators. Companies such as Camfridge Ltd. (UK) and Astronautics Corporation of America (US) are planning to launch products for domestic use that would be more energy efficient and comparatively quieter than traditional vapor compressor.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=243034247

Market ...
... for refrigeration systems expected to grow at a significant rate between 2018 and 2023

The magnetic refrigeration market for refrigeration systems is expected to grow at the highest CAGR between 2018 and 2023 owing to the early launch of refrigeration products because of the less complex system design compared to air conditioning systems and heat pumps. Thus, the players are initially focusing on commercializing products for refrigeration systems, followed by air conditioning systems and heat pumps.

Europe expected to hold the largest market share in 2018, and APAC expected to witness the highest CAGR during the forecast period

Europe is expected to hold the largest share of the magnetic refrigeration market in 2018, and the market in APAC is expected to grow at the highest CAGR between 2018 and 2025. The presence of many magnetic refrigeration companies in Europe helps drive the growth of the market in this region. Also, the governments of European countries are encouraging many research institutes and refrigeration companies to come up with a refrigeration technology that does not cause global warming and ozone depletion. Magnetic refrigeration is one such technology that does not use any refrigerant and is environmentally friendly. Thus, this technology is gaining popularity among players operating in the manufacturing of refrigeration systems, air conditioning systems, and heat pumps.

Request Sample @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=243034247

The major players involved in the development of the magnetic refrigeration technology are Cooltech Applications (France), Camfridge Ltd (UK), Astronautics Corporation of America (US), Whirlpool Corporation (US), Qingdao Haier Co. Ltd. (China), BASF SE (Germany), Eramet S.A. (France), Samsung Electronics Co., Ltd. (South Korea), Toshiba Corporation (Japan), VACUUMSCHMELZE GMBH & CO. KG (Germany), and Sigma-Aldrich Corporation (US ).

Total Views: 327Word Count: 436See All articles From Author

Add Comment

General Articles

1. Ivf Centre In Shivajinagar | Onp Hospital
Author: Prisha Patil

2. Seo Tips For Startups: Improve Your Online Presence On A Budget
Author: Anitha Ray

3. Respite Care: Supporting Caregivers With Temporary Relief
Author: Stephen William

4. Best Multispecialty Hospital In Pune- Onp Prime Hospital
Author: Prisha Patil

5. How To Maximise Your Value When Paying The Average Price For Driving Lessons
Author: Michael Ware

6. White Label Cryptocurrency Exchange Software: The Future Of Trading Platforms
Author: Franklin wilson

7. Oferta Especial De Bet365 Clone Script – Plataforma De Apostas Rápida E Acessível
Author: haroldruffes

8. Entre No Mercado De Apostas Esportivas Com O 1xbet Clone Script, Com Lançamento Rápido E Custo Baixo
Author: haroldruffes

9. What To Expect From Your First Lesson With Manchester’s Best Driving Instructors
Author: Michael Ware

10. How Intensive Driving Courses Help You Pass The Driving Test Faster In Manchester
Author: Michael Ware

11. How To Prepare For A Week-long Intensive Driving Course In Manchester
Author: Michael Ware

12. How One Tool Simplified My Trading Journey Completely: The Smart Order Routing
Author: daviddunn

13. Demand For Plaque Psoriasis Market Will Grow At Highest Pace Owing To Rising Prevalence Rate Of Psoriasis Disease
Author: Ravina Pandya

14. Improve Your Jewelry Brand’s Online Presence With Listany’s Ecommerce Platform
Author: Listany

15. Mobelgrace: Finest Interior Furniture, Luxury Brands, And Bespoke Creations In Delhi Ncr
Author: Prince

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: